The buyer, Universal Industries International Ltd, is one of South Africa’s leading kitchen equipment suppliers
Jestic Foodservice Equipment has announced the sale of the business to Universal Industries International Ltd, a company controlled by the founding shareholders of Universal Industries Corporation (Pty) Ltd, based in South Africa. Universal Industries (Pty) Ltd has several foodservice businesses including distributors and manufacturers and is one of South Africa’s leading kitchen equipment suppliers.
Speaking of the acquisition, new managing director of Jestic (formerly general manager), Ben Dale enthused: “This is a very exciting next stage in the growth of Jestic Foodservice Equipment and one which is extremely positive for our current customer base. Universal has shared with all the directors their vision for growth and I am delighted that Jestic will provide the perfect platform from which to do this.
“It is extremely important to stress that the existing management team and board of directors including Steve Morris, Michael Eyre, Neill Pearson and myself will be continuing with the business and therefore, for both our current customers and suppliers, this is very much business as usual.”
Synergies in common
Dale will report into new Jestic chairman, Wayne Brett, who is based full time in the UK . For Brett, Jestic provides the perfect entry point to the European market: “Universal Industries and Jestic Foodservice Equipment have many synergies in common, not least the fact that each are leaders within their field in their respective territories. The Jestic portfolio of brands and customers is extremely impressive and I look forward to getting to know each and everyone in the coming months.”
As part of the agreement, Jestic founder and previous majority shareholder, Martin Beesley, will continue in his current role as non-executive Director of Strategic Development in order to provide ongoing support to the management team and shareholders.
Jestic Foodservice Equipment has an ethos of providing catering equipment engineered to the very best standards, using exceptional craftsmanship and featuring the quality raw materials required to achieve an outstanding build quality. The Jestic portfolio includes equipment from leading brands including Josper, Wood Stone, Sveba Dahlen, Edge, Alfa Pro, Somerset and Vitamix.